Association of Member-Directed Pension Schemes | AMPS

Making Retirement Choices Clear
Written by Alan Finch on 6th Dec 2016 11:56 am 582


The ABI has published a language guide for communicating pension freedoms with the aim of simplifying pension jargon.

https://www.abi.org.uk/~/media/Files/Documents/Publications/Public/2016/Pensions/Making%20retirement%20choices%20clear%20Nov%202016.pdf

While implementation of the guide is voluntary it is hoped that firms will decide to adhere to it by April 2018.

Retirement options should be described as one of the following:
-You can keep your pension pot where it is
-You can take your whole pension pot in one go
-You can take your pension pot as a number of lump sums
-You can get a flexible retirement income
-You can get a guaranteed income for life
-You can choose more than one option and you can mix them

Leave a comment


Recent News

Committee Update
We are very pleased that Sarah Hawkins...
28th Mar 2017 2:13 pm
ABI 'Making Retirement Choices Clear' guide - Milestones approaching
If you wish your company to be listed as a supporter, the deadline is Friday 31 March 2017.
28th Mar 2017 2:07 pm
Money Purchase Annual Allowance consultation response
The AMPS Committee's response to the consultation was issued on 15th February. A copy can be viewed via the link below. Though the consultation's two questions were of narrow focus, the AMPS response sought to consider them by reference to the broader context of the continuing restriction of pension tax relief;
16th Feb 2017 4:27 pm

Top

Copyright ©2013 AMPS Online Site Design by infratraq LLP